Russia: Mechel net losses down in Q1 2018

In January-March Mechel decreased its net losses 1.7-fold YoY, to 5.1 billion rubles. According to the company statement, its revenue grew 2.2-fold, to 2 billion rubles. Gross profit increased 2.1-fold, to 2 billion rubles. Sales profit totaled 1.6 billion rubles, up 2.8-fold. The company fixed liabilities increased by 2.6%, to 239.7 billion rubles, while current…

Ukraine: AMKR to spend 2017 profit on development

ArcelorMittal Kriviy Rih intends to spend the 2017 profit on the manufacture development.

The decision was taken at the recent annual shareholders meeting. A new supervisory board and revision committee have also been elected.

Last year AMKR received 66.19 billion UAH of net income, with net profit at 5.06 billion UAH. (Ukrainian metal)

Russia: Deripaska to keep control of RUSAL

Oleg Deripaska plans to keep control over RUSAL even as the Russian aluminum giant battles for survival in the face of harsh U.S. sanctions, Bloomberg reported on April 26, citing people familiar with the matter. Deripaska was counting on lobbying by European governments to help ease the U.S. sanctions, said the people, who asked not…

Russia: Sinida starts gold-mining season

Sinida-1, a part of Seligdar, has started the ore gold mining season. On April 25, after a winter break and modernization, the gold-extracting factory at the Nerundinskoye deposits (Buryatia) was put into operation. “We expect increase in gold extraction. We plan to reach 74% of extraction as opposed to 45% last year. This will be…

Ukraine: Interpipe NTZ profits in 2017

In 2017 Interpipe Nizhnedneprovsk Pipe-rolling Works received 313.4 million UAH of net profit as opposed to the net loss of 1.14 billion UAH in 2016. Last year the company increased net income 2.1-fold YoY, to 10.42 billion UAH. EBITDA reached 279.87 million UAH as opposed to the negative result of 1.31 billion UAH in 2016.…

Ukraine: Ferrotrading profits down in 2017

In 2017 Ferrotrading LLC, specializing in the processing of secondary metals and alloys, decreased net profit by 34% YoY, to 8.287 million UAH.

Net income grew 2.1-fold, to 214.252 million UAH.

EBITDA fell to 8.404 million UAH from 12.563 million UAH in 2016. (Ukrainian metal)

Ukraine: Svet Shakhtera output up in Q1 2018

In January-March Corum Svet Shakhtera increased output by 32% YoY, to 199.5 million UAH. The main products are chain-and-flight conveyers, cutter loaders and transformer substations. “From late 2016 till January 2018 our mill fleet increased with new machines of Doosan, Mitsubishi and Taurus. Investments in the manufacture totaled 60 million UAH”, the company director Alexander…

Russia: Industry Ministry to help metal makers

The Ministry of Industry and Trade intends to provide state support to domestic metal enterprises to actively increase exports. “As to the metal industry, the development of exports depends on geopolitical factors. But the deep processing both in ferrous and non-ferrous metallurgy will provide for the increase of Russia’s export potential”, the minister Denis Manturov…